Consider the production possibilities frontier displayed in the figure shown. If this society chooses to produce 15 watermelons in can produce no more than:

Adam Smith created the theory of comparative advantage

Indicate whether the statement is true or false

Use the following information to answer this question. If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is approximately equal to

A) -10%. B) 10%. C) 20%. D) 9.1%. E) 0%.